Assessing potential business models for local journalism takes time and frankly that means yet another research project.  Looking for a shortcut?  You'll find one in New Revenue for News, 52 Business Ideas to Support Local Journalism.

Josh Stearns, Director of Journalism Sustainability at the Geraldine R. Dodge Foundation, presented the revenue strategies at CUNY’s Summer Entrepreneurial Journalism Training at Tow-Knight Center for Entrepreneurial Journalism,

His 52 strategies, each with links to newsrooms which have implemented the ideas, include innovative as well as conventional approaches to raising revenue.  Stearns suggests that before delving into the any of the 52 ideas, decide first if you’re really ready and committed to taking on new or additional directions to support local journalism.    

He said in his presentation, “When assessing potential business models, take into consideration these three areas.”

Desirable: Do people want it?

Viable: Can it make money?

Feasible: Can you build it?

Aim for the center where the three spheres overlap, “but start with desire,” he said.

His full slide presentation includes key questions to ask yourself for each of the 52 revenue ideas, which fall under these categories and include:

•   Advertising from banners to native ads
•   Events from wedding shows to idea festivals
•   Newsletters from niche content to advertiser/sponsor supported
•   Merchandise from shirts, posters to daily deals
•   Membership from the usual programs to loyalty programs
•    Services from SEO consulting to photography or video services
•    Side businesses from co-working space to financial advice
•    Print+digital from magazines to local guides
•    Premiums from content archives to apps
•    Paywalls from micropayments to Google Surveys
•    E-books from exclusive editions to  packaging older content
•    Philanthropy from crowdfunding to donations.